I'm in what's technically considered a "high risk" industry. High-risk payment processors are still kind of a mystery to me and I cant figure out if/when they're really necessary. My shop is new and has only made a couple of sales using Shopify's payment processing. Several have worked out fine but a couple have received the message that the payment couldn't be processed at that time.
SO, my question is, when are payment processors necessary for businesses considered high risk? My assumption now is since I'm still small, I can fly under the radar a bit with only a few transactions each month but eventually, as I grow, banks will start to catch on and reject payments. Additionally, if I'm victim to any fraud, I won't be protected currently. Is this correct? Any and ALL info regarding high-risk payment processors would be appreciated. This is the only aspect of my business that I'm lost on.